@agentKams Yes a lot of changes in our profession.
The accounting courses that will be available by school year 2018-2019 include BS Accountancy, BS Management Accounting, BS Internal Auditing and BS Accounting Information SystemIn addition to these forthcoming changes in the accountancy education, there will also be a reformatting of the professional licensure examination process. The licensure examination of the future will include two levels of tests. The graduates of the four accounting programs will have to take the first-level Certified Accountant (CA) examination. This examination consists of five core accounting subjects, to include financial accounting reporting, advanced financial accounting reporting, management advisory services, taxation and regulatory framework for business transactions. The examinees will have to pass this CA examination to work or practice accountancy. The passers of the CA examination will be authorized to work as accountants in the government, public practice and private sector, except to sign auditor’s certifications and to teach as accounting educators.
Those who want to pursue the aforementioned exempted accountancy work will have to pass the second-level Certified Public Accountant (CPA) or Certified Professional Accountant (CPA) examination, depending on their educational specialization or attainment. There will be a CPA examination for each of the four accountancy courses or specialization. There will be a CPA examination dwelling for each of the accountancy specialization of auditing, management accounting and accountancy information system. The CPA examination can be taken optionally after three years of meaningful work experience. Once the examinees have passed the CPA exam, they can now be signatories of the external audit certification, while passers of the Certified Professional or Public Accountant exams can qualify as accounting teachers.The new licensure examination consisting of both the CA and CPA examinations are expected to start by year 2023. - Joel Tan Torre column in Business Mirror